In their July update, they were only a month away on the drift. In the October update, they're 90% of the way there. Thanks for keeping us posted ahead of time.
When I flick through their quarterlies, there is so much fluff. I was initially positive based on Malabar marketing - I mean, their presentations. But the last equity raise and delays have placed doubts in my mind about Malabar management team on delivering. Also I've seen enough "personal reasons" to remember it being code for something isn't quite right operationally. So not surprised by your suggestion.
Goes to show how hard developing a mine is, when people who've done it before seem to be really having a hard time.
I'm ambivalent towards NHC tipping in more equity - to fund working capital or buy out others. I was more excited earlier on, even though I thought they'd just pay up eventually.
NHC Price at posting:
$4.89 Sentiment: None Disclosure: Held
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